China’s media regulator on Feb. 5 ordered radio and
television channels to cut advertisements suggesting “gift
giving,” the country’s Xinhua news service reported. Some ads
have encouraged people to give gifts including luxury watches
and gold coins, the State Administration of Radio, Film and
Television said in a circular, according to Xinhua.

“Investors are concerned that Beijing might clamp down on
gift-giving,” Alex Wong, a director at Ample Asset Management
said by phone in Hong Kong. The media regulator’s announcement
added to those worries, he said.

China’s Lunar New Year holiday, which begins Feb. 10, is a
peak time for gift giving.

High-profile corruption cases among business and government
leaders, including the March ouster of Chongqing party chief Bo Xilai in an alleged graft and murder scandal, have put a
spotlight on influence and gifting in public life.

The regulator’s push comes amid a campaign against
corruption following a party conclave in November that saw Xi
Jinping succeed Hu Jintao as Communist Party General Secretary.
In November, both Hu and Xi warned that corruption threatened
the party’s hold on power.